sell outs, page-18

Blythefan.

Sorry I did not reply but I have not been keeping track of GGG.

I guess GGG could probably mine 6mtpa, 8 mtpa at the most but I guess 6mpta may be max.

At 80% recovery, this would produce 62,000 tonnes of REE.

However, we can compare to ARU, who have forecast AUS$600m capex to produce 20,000 tonnes of REE with head grade of 3% REE.

I am just struggling to see what kind of value GGG can extract for the REE, if any.

Clearly, the CAPEX for the REE must be costly.

So what type and cost of CAPEX do you think will be required?

Can one plant serve the needs of processing both the uranium and REEs or do they need another separation plant for the REE?

However, for uranium alone, the CAPEX will not be so great and there is plenty of upside however for me not so compelling.

I will present my scenarios later.

I must of now.